UBS Maintains a 'Buy' on ADP (ADP); Chugging Along, As Expected
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Price: $272.96 --0%
Rating Summary:
5 Buy, 19 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 19
Rating Summary:
5 Buy, 19 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 19
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UBS maintains a 'Buy' on ADP (NASDAQ: ADP) price target cut from $63 to $62.
Analyst, John T. Williams, said, "We continue to believe that ADP shares offer an attractive total return opportunity with consider able leverage to an improving US macro backdrop, employment growth, and (eventually) rising rates. We note that key metrics continue to improve, and point to higher realized pays-per-control growth (3.3% actual vs. UBSe 2.5%) and FY12 guidance (+2.5-3.0%; was
+.2.0-2.5%) that signal underlying growth is poised to pick up over the next 12 months."
UBS lowers FY12/13 EPS estimate by $0.03 each, to $2.75/$3.08, respectively.
For an analyst ratings summary and ratings history on ADP click here. For more ratings news on ADP click here.
Shares of ADP closed at $55.21 yesterday.
Analyst, John T. Williams, said, "We continue to believe that ADP shares offer an attractive total return opportunity with consider able leverage to an improving US macro backdrop, employment growth, and (eventually) rising rates. We note that key metrics continue to improve, and point to higher realized pays-per-control growth (3.3% actual vs. UBSe 2.5%) and FY12 guidance (+2.5-3.0%; was
+.2.0-2.5%) that signal underlying growth is poised to pick up over the next 12 months."
UBS lowers FY12/13 EPS estimate by $0.03 each, to $2.75/$3.08, respectively.
For an analyst ratings summary and ratings history on ADP click here. For more ratings news on ADP click here.
Shares of ADP closed at $55.21 yesterday.
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